The most irresponsible and childish group of senior decision makers in America is once again pandering to voters. This time, they’re sending a strong message – yes, you can do whatever you want without any consequences.
WASHINGTON – Hundreds of thousands of homeowners could get safe, cheaper loans rather than losing their homes under a massive election-year mortgage rescue that’s drawing bipartisan support.
Make no mistake about what this “bailout” is. It is theft. When Congress decides to bailout the airline industry, or Bear Sterns or the savings and loan industry they have to steal money from taxpayers to do so. Now that Congress has decided to bail out people who took out loans they couldn’t afford what they are really saying is “hey, it’s OK to be irresponsible.” The responsible people will pay for it. Yes, I realize that a few Americans go into foreclosure because of circumstances beyond their control. They are the exception. The vast majority of foreclosures happening right now are people who bit off way more than they could chew. Congress can continue to send the message and steal the money for as long as it wants to.
A tipping point has already been reached – the one where the parasites outnumber the productive. That is why we are $52 trillion in debt. Don’t believe me though – go read what the Peter G. Peterson Foundation has to say about the state of our economic state. When every American owes $175,000 we’re in trouble. If the man who used to be in charge of the Federal Reserve Bank thinks we are in trouble we ARE IN TROUBLE.